Premium Beauty and Personal Care in Singapore

PROSPECTS

Experiential stores provide new interest

Retailers are increasingly turning to experiential shopping to help drive footfall and interest in their brick-and-mortar outlets, which face growing competition from e-commerce. For example, Nu Skin’s outlet at Clarke Quay Central features a high-tech touchscreen digital wall, which consumers can interact with to learn about the brand’s history and to find out about its product range, which consumers can then either download or email to themselves using the screens.

Premium fragrances returns to growth

Having seen a period of heavy discounting over the review period due to growing competition between store-based and online retailers, premium fragrances returned to growth in 2017 as prices stabilised. Premium unisex fragrances was the most dynamic category with gender blurring becoming a key trend, even in fragrances.

Parents go in search of safer products for their children

There is expected to be a slow shift from mass baby and child-specific products to premium options over the forecast period, with parents increasingly looking for organic and naturally-positioned products due to rising health concerns. The low fertility rate within the country has been offset by this shift in demand towards more expensive options, with single-child families better able to afford to choose the best products for their children.

COMPETITIVE LANDSCAPE

Innovative Magnetic Booster generates interest in SK-II

Procter & Gamble’s SK-II brand retained the lead in premium beauty and personal care with it recording a slight increase in its value share in 2017 thanks in large part to its popular range of premium skin care. 2017 saw the launch of its innovative new Magnetic Booster range, which was initially exclusively available at The Shilla Duty Free at Changi Airport, but which then received a nationwide release in September.

Laneíge carries out events to drive interest

Laneíge witnessed the largest increase in value share within premium beauty and personal care in 2017 with it continuing to launch new and innovative products, as well as carrying out events to encourage interest. For example, in May 2017 it ran its K-Beauty Masterclass at the Fairmont Hotel Singapore, which enabled consumers to learn the latest techniques as well as trying out new Laneíge products.

Coty purchases Burberry license

In 2017 Coty Inc acquired the exclusive long-term global license for Burberry’s fragrances, cosmetics and skin care, which follows its acquisition of the rights to make Hugo Boss and Gucci fragrances from Procter & Gamble. Although Coty is known more for its celebrity fragrances, it is hoping to break into premium fragrances through these acquisitions.

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